Estonia, Financial Services

In connection with the changed external environment, its subsequent impact on the business environment of credit institutions and the need to adjust the business plan related to the application for a credit institution's license, Admiral Markets AS decided on Jan. 9, 2019, to withdraw the license application and submitted a corresponding application to the Estonian Financial Supervision Authority, the Supervision Authority accepted this application on Jan 16, 2019.

Admiral Markets AS finds that in the interests of the efficiency of services provided under a credit institution's license, it is expedient to update and amend the business plan related to the license application.

The company considers it possible that after the withdrawal of the license application, Admiral Markets AS will submit a new application for a credit institution license after making the necessary changes, the company said.

The withdrawal of the credit institution's license application does not affect the current operations of Admiral Markets AS, the provision of investment and ancillary services.